Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS) Message Board

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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)

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To: Ditchdigger who wrote (41170)	2/10/1998 5:19:00 AM
From: FTJoe	Read Replies (2) of 55532

[Off topic] - Be sure to let all of us know. ;-) It is, of course, an academic discussion. Ask over on the tax thread, bunch of CPAs and tax guys hang there. I'm told if a stock can not be sold, you can declare it a total loss. My guess is, if it starts trading again, you would have to amend the position you took, either sell it or rescind the loss you took. Many times, a broker will buy shares that are cancelled as a result of a chapter 11, simply to allow folks to sell. Again, I am told that if a person can not sell after a reasonable attempt to do so, they can declare a loss. The penny lot sale is when the sale of the stock would cost more in commissions than the proceeds for the sale would cover. The broker buys them from you for one penny and there's no commission charged. I managed two of these on the 31st of last year. ;-)

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